Weekday musings on Practical Preparedness, Saving Money, Good Health, and Current Events.

Monday, December 13, 2010

Congressional Salaries

I have wondered at times what the Ten Commandments would have looked like if Moses had run them through the US Congress. - Ronald Reagan

Here is a scary story from http://hotair.com/, While Rome Burns, Congress Members Get Richer.
Between 2008 and 2008, the US House of Representatives gave itself a 19% pay raise from $645,503 to $765,010. The Senate? Just a modest 5% increase from $2.27 million to $2.38 million. Ouch who knew congress was paid so well? Are we getting our money's worth? Hiring professional consultants and small business CEO's would cost less.

"The [study by the Center for Responsive Politics] further shows that nearly half of all federal lawmakers—261—are millionaires, a financial distinction shared by only 1 percent of the general populace. Of those congressional millionaires, 55 have an average calculated wealth of $10 million or more, and 8 are in the exclusive $100 million-plus club.

Lest you think the inequity follows party lines, it is worth noting that the richest Congress member is a Republican, Rep. Darrell Issa of California, who in 2009 reported holdings in excess of $303.5 million. Next comes fellow Californian, Rep. Jane Harman, a Democrat, who reported $293.4 million. Sen. John Kerry (D-MA) finishes in third place with a mere $238.8 million." - hotair.com

The article goes on to point out that many members of congress own stocks in the companies they regulate and investigate (or pass laws favoring).

Bottom Line

"Benjamin Franklin, one of the greatest legislators in the nation’s history, believed that servants of the people in government should receive no fee or reward for their services above and beyond personal expenses. Maybe it’s time to follow that sage’s sage counsel." - hotair.com